Range resources on Somali oil hunt [go Puntland]

[General Duke]

Range resources on Somali oil hunt

October 12, 2006

 

AUSTRALIAN resources explorer Range Resources has signed a $US50 million ($67.50 million) deal with Canadian-based Canmex Minerals to help it look for oil in Somalia.

 

Canmex will be the operator of the exploration, which is located in the northeastern state of Puntland, and has to complete a minimum of four exploration wells to secure an 80 per cent stake in the project.

 

A production sharing agreement is expected to be finalised between Range, Canmex and the Puntland government by the end of next month.

 

Melbourne-based Range is exploring for oil, gas, nickel and uranium in Western Australia, Peru and Puntland.

 

Shares in Range gained 0.3 of a cent to 3.2 cents by 1329 AEST.

[General Duke]

Melbourne-based Range is exploring for oil, gas, nickel and uranium in Western Australia, Peru and Puntland.

I thought some here said Range was a small firm? What the hell is it doing in South America and Australia? :confused:

[raadamiir]

This is great news indeed. Money is in great need all over Somalia.

[NASSIR]

Hold your horses guys.

[Taleexi]

Originally posted by raadamiir:

This is great news indeed. Money is in great need all over Somalia.

May be it is wise that you paraphrase your above remarks.

[raadamiir]

Don't worrie we Puntlanders know how to share! lol

[raadamiir]

Mansa Munsa what is the problem? Somalia is poor from North to South. The country is dry Money is the best solution to any problem.

 

Puntland the state will have 50% share the dowlad 50%.

 

I told you we know how to share.

[Taleexi]

Originally posted by raadamiir:

Mansa Munsa what is the problem? Somalia is poor from North to South. The country is dry Money is the best solution to any problem.

 

Puntland the state will have 50% share the dowlad 50%.

 

I told you we know how to share.

Don't we already know the background of this so called lucrative contracts, let it be remembered "Everything that glitters is not gold"

[Ms DD]

Absolutely Mansa. Who knows whose pocket it will end up. I can bet my last pound that it wont be populace of the country.

[Alle-ubaahne]

Originally posted by Cambarro:

Absolutely Mansa. Who knows whose pocket it will end up. I can bet my last pound that it wont be populace of the country.

I think you are the first woman I had ever seen to bet on political issues!

 

Was your husband a politician, Abaayo?

[Ms DD]

Salaam

I only became interested since the Courts transformed Mogadishu. But this aint about politics but a hunger to have a home country to return to and eventually to live. Lets face it, muslim are having hard time in the west. Things will only get worse here. So before it does, i pray to Almighty that we have somewhere safe to call home.

 

Mind you, i can bet on political issues without having a politician for a husband (if betting wasnt haraam).

[Alle-ubaahne]

Originally posted by Cambarro:

Salaam

I only became interested since the Courts transformed Mogadishu. But this aint about politics but a hunger to have a home country to return to and eventually to live. Lets face it, muslim are having hard time in the west. Things will only get worse here. So before it does, i pray to Almighty that we have somewhere safe to call home.

 

Mind you, i can bet on political issues without having a politician for a husband (if betting wasnt haraam).

So, you are a single, which makes everything more interesting for me?

[Ms DD]

What do you think this place is? Seek Single SOLS?

[art]

Originally posted by General Duke:

I thought some here said Range was a small firm? What the hell is it doing in South America and Australia? :confused:

general, Range has excellent concessions in Peru rich in Uranium. these will be mined in the near future. Range may be small, but they have a whale of a chairman in the form of Sir Sam Jonah.

 

With regards to puntland....I'm sure there's more to come.

[Sophist]

This is a farce indeed. Range approached couple big guns in the oil industry and were told to hit the road. Puntland now has realised that they (Range Resources) don't have the capacity to deal with exploration of this kind and as such opened discusions with another African based oil company.